Zoetis Inc. (NYSE:ZTS) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 17.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,667 shares of the company’s stock after purchasing an additional 46,001 shares during the period. Toronto Dominion Bank owned about 0.07% of Zoetis worth $52,230,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Zoetis by 1.0% in the first quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock worth $6,895,235,000 after acquiring an additional 414,605 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Capital World Investors boosted its holdings in shares of Zoetis by 0.6% during the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock worth $1,788,988,000 after purchasing an additional 57,798 shares during the period. Norges Bank acquired a new stake in shares of Zoetis during the fourth quarter worth approximately $980,646,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Zoetis by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 4,509,599 shares of the company’s stock worth $763,069,000 after purchasing an additional 151,689 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. BTIG Research assumed coverage on shares of Zoetis in a research note on Thursday. They issued a “buy” rating and a $220.00 target price for the company. HSBC reduced their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $212.67.

Zoetis Stock Performance

NYSE:ZTS traded down $0.92 during trading hours on Friday, hitting $179.84. 2,427,901 shares of the company traded hands, compared to its average volume of 2,826,854. The stock has a market capitalization of $82.06 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The firm has a 50-day moving average of $174.51 and a 200 day moving average of $176.29. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. On average, analysts forecast that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is currently 33.33%.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.